A Sinister Fattening: Dissecting the Tales of Pig Butchering and Other Cryptocurrency Scams

Ordekian, Marilyne ; Papasavva, Antonis ; Mariconti, Enrico ; Vasek, Marie (2024) — 2024 APWG Symposium on Electronic Crime Research (eCrime)

AI-Generated Synopsis

This catalog entry surveys pig butchering scams within cryptocurrency ecosystems and related fraud schemes as discussed at the 2024 APWG Symposium on Electronic Crime Research (eCrime). The focus is a broad examination of attacker narratives and social-engineering techniques used to induce financial commitments, followed by the progression from initial contact to asset transfer. The material maps the criminal ecosystem supporting these schemes, including recruitment channels, platform facilitators, and methods of monetization. It situates pig butchering within a wider landscape of crypto-related fraud, noting overlaps with phishing, impersonation, investment scams, and other extortion tactics. The discussion is organized around typologies, illustrative examples, and considerations of victim vulnerability, attacker incentives, and the role of technology platforms in enabling or hindering abuse. Conveyed through this synopsis are themes related to detection, prevention, and response. Topics include indicators of compromise, threat-intelligence sharing, user education, and platform-level safeguards, as well as legal and policy implications for enforcement and regulation. Methodological notes cover data sources, measurement challenges, and the interdisciplinary approaches used to study these frauds, including technical, criminological, and sociotechnical perspectives. The material emphasizes collaborative strategies among researchers, industry, and policymakers to understand, disrupt, and deter crypto-enabled crime while balancing privacy, usability, and rights.


        
      

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